Apollo Global Management (NYSE:APO) Rating Lowered to Hold at Zacks Investment Research

Apollo Global Management (NYSE:APO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Apollo Global Management LLC provides alternative asset manager services. It operates primarily in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. Apollo Global Management LLC is based in New York, United States. “

Other equities analysts also recently issued reports about the company. TheStreet downgraded Apollo Global Management from a “b-” rating to a “c+” rating in a report on Thursday, March 18th. BMO Capital Markets raised their target price on Apollo Global Management from $58.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, March 9th. Wells Fargo & Company dropped their target price on Apollo Global Management from $62.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded Apollo Global Management from a “neutral” rating to a “buy” rating in a report on Monday, March 22nd. Finally, Citigroup upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $53.00 to $56.00 in a report on Monday, March 22nd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $55.27.

Shares of NYSE:APO opened at $49.47 on Tuesday. The stock’s 50-day moving average price is $48.08 and its two-hundred day moving average price is $46.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. Apollo Global Management has a 12-month low of $33.66 and a 12-month high of $55.38. The firm has a market cap of $11.48 billion, a price-to-earnings ratio of -58.89, a PEG ratio of 5.26 and a beta of 1.62.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Tuesday, February 2nd. The financial services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.22. The firm had revenue of $519.79 million during the quarter, compared to analysts’ expectations of $480.07 million. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 earnings per share. As a group, research analysts forecast that Apollo Global Management will post 1.81 earnings per share for the current fiscal year.

In other Apollo Global Management news, major shareholder Tiger Global Management Llc purchased 1,000,000 shares of the stock in a transaction dated Thursday, March 11th. The shares were acquired at an average price of $47.22 per share, for a total transaction of $47,220,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Scott Kleinman sold 2,700 shares of Apollo Global Management stock in a transaction on Wednesday, January 27th. The shares were sold at an average price of $50.00, for a total value of $135,000.00. Following the transaction, the insider now owns 1,350,000 shares in the company, valued at approximately $67,500,000. The disclosure for this sale can be found here. Insiders have sold 1,313,928 shares of company stock worth $67,269,864 over the last ninety days. 9.30% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. NuWave Investment Management LLC grew its stake in Apollo Global Management by 286.4% in the fourth quarter. NuWave Investment Management LLC now owns 711 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 527 shares in the last quarter. Montag A & Associates Inc. bought a new stake in shares of Apollo Global Management during the 4th quarter worth about $39,000. Reby Advisors LLC bought a new stake in shares of Apollo Global Management during the 4th quarter worth about $57,000. Strs Ohio acquired a new position in shares of Apollo Global Management during the 4th quarter worth about $96,000. Finally, Alpha Paradigm Partners LLC acquired a new position in Apollo Global Management in the 4th quarter valued at approximately $96,000. Institutional investors and hedge funds own 71.95% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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